Blog analyses where the smart money has gone so far this year The Nordics have been strong for new technology company start-ups this year, with the region again doing well in mobile, and with financial services picking up strongly. In a blog posting here, the latest Q3 numbers are analysed.
Looking at the first three quarters does nothing to dispel any sterotypes as to what Nordic startups excel in, as health, B2B enterprise and gaming startups have seen the most investment, it says.
However financial tech claiming fourth spot is interesting, with the Nordics perhaps gearing up to challenge London as the fintech Capital of Europe. Sweden is still leading the way overall this year, having raised €165.47m in the first three quarters.
Finnish Startups have raised €122.05m, with Denmark also passing the nine figure mark with a total of €105.2m. Norwegian startups raised just shy of €8m in the first nine months of the year, and Icelandic startups just €1m.
In Q3, 43 Nordic startups raised investment, with a grand total of €114.68m raised. Six of the 43 investments were undisclosed so were not included in the total amount, the blog says, although they are included in the stage, country and vertical dataset.
The Q3 numbers bring the years total to 127 investments totalling €401.64m raised in the region.
Finland was in the money this quarter, with nearly 50% of the funds coming into the region heading North, a total of €55m. Swedish startups raised €46.52m, while Denmark claimed just shy of €13m.
It recorded just the one investment in a Norwegian startup, with none happening in Iceland this Quarter.
Swedish startups took the top two places for the largest investments in Q3 with Tobii and KnCMiner, but the top 10 was dominated by Finnish startups, who claimed six spots, with Sweden claiming three in total.